Rare opportunity to acquire two (2) adjacent student housing investment properties at UCSB (University of California Santa Barbara) on the prime Del Playa Drive in Isla Vista, CA. Unobstructed ocean views and unrivalled location within walking distance to the university, Camino Del Sur beaches, and center of town's best restaurants and nightlife. Recently renovated with updated flooring, kitchens, and bathrooms throughout. Both 6-bedroom, 14-bed properties have been 100% occupied for over 20+ years due to strong demand and virtually no new supply in the market while university enrollment continues to grow to all-time highs. These homes pre-lease well in advance and are already rented for the 2024-2025 school year with monthly income of $19,000 each, totaling $38,000/month for both properties. Offering price of $5.85mm for both properties is just $209k/bed, a material discount to recent comparable sales and yields a 5.5% cap rate / 12.6 GRM on 2024-2025 rents. Significant potential upside in the future as rents are still well below market, and additional revenue streams available through laundry and parking. Great properties for new investors, current parents of students, or long-term holders seeking durable cash flow. Further information available upon request. Property Details:6647 Del Playa - 6 bedrooms, 14 beds, 4 bathrooms - 2024/2025 leased at $19,000/month6649 Del Playa - 6 bedrooms, 14 beds, 2.5 bathrooms - 2024/2025 leased at $19,000/monthPortfolio Total - 12 bedrooms, 28 beds, 6.5 bathrooms - 2024/2025 leased at $38,000/month
Property Details
Property Features
Property Information:
Year Built: 1967
Listing Office:
Office Name: Radius Group Commercial RE
Office Email: sgolis@radiusgroup.com
Listing Agent: Steven Golis
Interior Features
Interior Information:
Fireplace: None
Exterior Features
Exterior Information:
Private Pool: No
Lot Features
Lot Information:
Lot Size: 0.26 Acres
Utilities
Utilities Information:
Cooling: None
School Info
Assigned Schools Information:
Dos Pueblos Senior High School, Public District Grades 9-12
Goleta Valley Junior High School, Public District Grades 7-8
Isla Vista Elementary School, Public District Grades KG-6
Other
Directions Information:
Directions: Turn right on Del Playa Drive from Camino Pescadero. Property is on bluff side.
Price Information
Listing Price Info
Price Summary:
List Price: $5,850,000
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MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #V1-22653
Listing Office:
Office Name: Radius Group Commercial RE
Office Email: sgolis@radiusgroup.com
Listing Agent: Steven Golis
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 5/1/2024, 10:25:21 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
7
/10
Isla Vista Elementary School
6875 El Colegio Rd
Distance between this listing and this school0.48 miles
Public District Grades KG-6
Middle School
6
/10
Goleta Valley Junior High School
6100 Stow Canyon Rd
Distance between this listing and this school3.39 miles
Public District Grades 7-8
High School
7
/10
Dos Pueblos Senior High School
7266 Alameda Ave
Distance between this listing and this school2.09 miles
Public District Grades 9-12
Assigned Schools
7
/10
Isla Vista Elementary School
6875 El Colegio Rd
Distance between this listing and this school0.48 miles
Public District Grades KG-6
Nearby Schools
6
/10
Ellwood Elementary School
7686 Hollister Ave
Distance between this listing and this school2.00 miles
Public District Grades KG-6
6
/10
Brandon Elementary School
195 Brandon Dr
Distance between this listing and this school2.42 miles
Public District Grades KG-6
Assigned Schools
6
/10
Goleta Valley Junior High School
6100 Stow Canyon Rd
Distance between this listing and this school3.39 miles
Public District Grades 7-8
Nearby Schools
8
/10
Santa Barbara Charter
6100 Stow Canyon Rd
Distance between this listing and this school3.39 miles
Public Charter Grades KG-8
6
/10
La Colina Junior High School
4025 Foothill Rd
Distance between this listing and this school7.04 miles
Public District Grades 7-8
Assigned Schools
7
/10
Dos Pueblos Senior High School
7266 Alameda Ave
Distance between this listing and this school2.09 miles
Public District Grades 9-12
Nearby Schools
6
/10
San Marcos Senior High School
4750 Hollister Ave
Distance between this listing and this school5.05 miles
Public District Grades 9-12
6
/10
Santa Barbara Senior High School
700 E Anapamu St
Distance between this listing and this school9.88 miles
The neighbors living near this home have an average income of $60,147. Typical income of Santa Barbara County, CA residents is less than $35k annually. Most families are single, no kids. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 66476649 Del Playa Dr
What is the listing price of this property?
The listing price of 66476649 Del Playa Dr property is $5,850,000.
What type of property is this?
The property 66476649 Del Playa Dr is a house located in Goleta, California, 93117.
Is this property for sale now?
Active Listing: 66476649 Del Playa Dr is For Sale (Active/New) which means the seller is accepting offers.
What are the assigned schools for this property?
The assigned schools for 66476649 Del Playa Dr are: Isla Vista Elementary School: GreatSchools Rating 7/10Goleta Valley Junior High School: GreatSchools Rating 6/10Dos Pueblos Senior High School: GreatSchools Rating 7/10
Which year was this property built?
The year of construction for 66476649 Del Playa Dr is 1967.
Interested in 66476649 Del Playa Dr? Let's connect.
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This home is located at 66476649 Del Playa Dr in Goleta, CA and zip code 93117 in the Isla Vista neighborhood. This home, which was built in 1967, sits on a 0.26 acre lot. It has been listed on Rocket Homes since March 27, 2024 and is currently priced at $5,850,000.
Santa Barbara County, CA housing market in March 2024 saw over 58 listings sold above listed price, more than 35 sold at listed price and over 64 sold below. In March 2024 in Santa Barbara County, CA there were 5.2% more homes for sale than in February 2024. Listings spent 33 days on the market in March 2024, and had a median list price of $1,219,929 during the same period.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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